This is a council motion whose proposer address (FcxNWVy5RESDsErjwyZmPCW6Z8Y3fbfLzmou34YZTrbcraL) is shown in on-chain info below. Only this user can edit this description and the title. If you own this account, login and tell us more about your proposal.

- Problem Statement: The current v900 runtime is based on the outdated v9190 release, which lacks the latest XCM and core Substrate changes, and uses outdated terminology in the Uniques pallet. The intended audience is Polkadot/Kusama users and NFT collection owners.
- Significance: The outdated runtime and terminology can lead to confusion and misalignment with industry standards. The lack of a limit on the number of items in an NFT collection can lead to oversaturation.
- Proposed Solution: Update to the v9230 runtime, which includes the latest XCM and core Substrate changes, renames `class`es and `instance`s to `collection`s and `item`s in the Uniques pallet, and allows NFT collection owners to set a max number of items. The deposit required to create both fungible and non-fungible asset classes will also be updated to 10 DOT.
- Expected Outcomes: The update will align the runtime with industry standards, prevent oversaturation of NFT collections, and standardize the deposit required for creating asset classes.

Council Motion #221